A Short Sale occurs when a financially insolvent homeowner who is facing foreclosure sells his home for less than the value of his loan. The lender accepts the sale as payment in full for the loan. This helps the homeowner to avoid foreclosure and the tremendous hit to their credit rating. Short sales take time, attention to detail and an understanding of property owner and lender options.
For Sellers:
Your Short Sale & Foreclosure Specialist will begin asking you for documents, records, expenses and information necessary to complete the lender proposal. The more information and communication, the better opportunity for results.
8 Steps to a Short Sale:
(1) Gather Information,
(2) Open Communication,
(3) Develop the Proposal,
(4) List the Home,
(5) Obtain an Offer,
(6) Submit a Proposal,
(7) Negotiate the Deal,
(8) Close the Deal.
For Buyers
Short Sales can provide an excellent opportunity to purchase a home. However, patience is a key ingredient to any Short Sale. So, if you don't need the home in the next 30 days - consider short sales too! However, first and foremost, you will need to understand the process from a buyers point of view. For that, give Rustina Gibson a call at 407-808-7127 and let her help you find your BEST DEAL! |